ASX 200 kicks off February with a Trump Tariff induced loss of 153 points to 8379 (-1.8%). No sign of any rally as US futures point to further loses. Across the board falls with the Big Bank Basket down to $260.71 (-1.6%). CBA off 1.5% with MQG falling 1.6% and insurers weaker, QBE down 2.3% and SUN off 3.2%. REITs also under pressure, GMG off 1.6% and SCG down 1.6%. Healthcare eased with FPH warning on falling margins, RMD down 3.1% on its quarterly update. CSL down 1.8%. Industrials also eased back, WES down 1.9% and ALL falling 2.0% after a great run. REA off 2.2% and tech sank, WTC down 2.9% and US faced 360 dropping 5.1%. HSN rose 2.2% on a trading update, the All-Tech Index down 2.1%. Retail slid, JBH down 0.3% but SUL worse falling 2.2% and CTT off 19.0% on US concerns. In resources, iron ore miners on the nose, FMG down 4.4% and RIO off 2.1% on aluminium issues. Gold miners were firm relatively, oil and gas were flat despite rising crude prices. Uranium found some sellers. In corporate news, MFG sell-off continues following the recent management changes; RSG CEO resigned with the stock falling 9.6% on the news. WGX fell 12.4% on a production update and FPH warned on Mexican implications. In economic news, retail trade came in with a 0.1% fall, better than expected. Asian markets are still playing second fiddle to New Year holidays. Japan off 2.85% with car makers getting smacked on tariff news. HK down 1.1%. 10-year yields 4.38%.

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